Florentina Micu, the director of Rom arm, and Jaeil Son, the CEO of Hanhwa Aerospace, signed an agreement.
6th of February : A Memorandum of Understanding (MoU) for cooperation in the Aerospace and Defence sectors was signed on Monday by Hanwha Aerospace and Romarm, a state-owned military equipment business in Romania.
Florin Spataru , the economy minister, stated during the signing ceremony that Romania will sign a Memorandum of Understanding (MoU) on Wednesday with another South Korean company involved in the Defence industry but he did not specify which one.
The Romanian defence ministry will make the last call on whether or not Hanwha and Romarm will ultimately sign a deal, Spataru continued.
He added that the Romanian business is thinking about exporting military hardware created in collaboration with Hanwha to both EU neighbours and those outside the bloc.
Hanwha is the only manufacturer of aviation engines in South Korea and was founded in 1977. The company works in the aerospace sector by supplying gas turbine engines, engine components, aircraft components, and in the defence sector by supplying launch vehicles, lasers, navigation systems, and other machinery.
Romarm, a Romanian company founded in 2000, offers a variety of maintenance services as well as a variety of military supplies and ammunition. Romarm had a profit of 1.49 million lei ($332,420/304,050 euro) on a revenue of 131.5 million lei in 2021, according to figures from the financial ministry.
